Make one query for adding entries to database

I have a situation where I need several entries to be added to a database table (sometime a few hundred), but using $wpdb->insert() (and $wpdb->update() where edits are necessary) is running these inserts one at a time, which is very inefficient.

Is there a $wpdb method available that will allow me to create the query, by looping through my query, and then execute it once I’m out of that loop?

Here is the code I am currently using to add new data. Any suggestions for improvements would be appreciated –

function do_add_invitees_in_database(){

    /** Make sure there are invitees to add */
    if(empty($this->invitees['new'])) :
        return $_POST['add_successfull'] = true;
    endif;

    global $wpdb;

    /** Get the creator ID */
    $creator_id = get_current_user_id();

    /** Make the invitee creation date */
    $date_added = date('Y-m-d H:i:s', time());  

    /** Insert the new invitees in to the 'event_invitees' database table */
    foreach($this->invitees['new'] as $invitee) :

        $row = array(
            'invitee_created_by'        => $creator_id,
            'invitee_created_date'      => $date_added,
            'invitee_last_edited_by'    => '0',
            'invitee_last_edited_date'  => '0000-00-00 00:00:00',
            'event_id'                  => $_POST['event_id'],
            'email'                     => $invitee['email'],
            'first_name'                => $invitee['first_name'],
            'surname'                   => $invitee['surname'],
            'custom'                    => $invitee['custom'],
            'invited'                   => 0
        );
        $wpdb->insert($wpdb->event_invitees, $row);

        /** Debug the query run by $wpdb->insert() */
        $this->debug($row);

    endforeach;

    /** If there were no errors, mark the invitee additions as successfull */
    return $_POST['add_successfull'] = (!$this->error_found) ? true : false;

}